Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services.

Tuesday, 31 May 2016

DNA testing market is anticipated to reach USD 10.04 billion by 2022

Global DNA testing market is anticipated to reach USD 10.04 billion by 2022, according to a new study by Grand View Research Inc. Rise in developments in the field of genome sequencing and personalized DNA level diagnostic applications, a considerable growth in the number of patented research initiatives by the government and government funded projects are factors expected to drive demand during the forecast period.U.S. DNA testing market, by application, 2012-2022 (USD Million)

Introduction of novel technologies for genome profiling are expected to boost progress of this industry over the forecast period. Furthermore, increasing incidences of chronic oncology and infectious diseases that depend on DNA prototyping for treatment and diagnosis using personalized medicine are anticipated to significantly raise demand for DNA diagnostics/testing based research thereby propelling industrial growth in the coming years. Increasing demand for prenatal testing and in-vitro fertilization that subsequently leads to rise in demand for DNA diagnostics/testing is also attributive towards expected progress in this market.

PCR based diagnosis accounted for the largest share of the market revenue in 2014 as a result of higher preference rate coupled with higher availability of products and reagent kits of this segment.

Next generation sequencing application for DNA testing is estimated to witness significant progress with a double digit CAGR of over 16% amongst the other technology segments due to presence of significant advantages offered by this technique of DNA identification and testing.

Infectious disease diagnostics accounted for the largest market share in 2014 due to higher incidence rate of various infectious disorders which subsequently raises the demand for in-vitro nucleic acid based diagnostic tests for diagnosis and monitoring of disease progression.

There are diverse applications of DNA testing market out of which oncology diagnostics and histopathology is estimated to register lucrative growth over the forecast period. Factors attributing for considerable growth potential in this segment include identification of cancer causing genes & associated research, and facilitation in mutation detection

North America dominated the market in 2014, with revenue estimated at over USD 2,600 million. Presence of sophisticated healthcare infrastructure, rising incidence of genetic abnormalities, favorable government initiatives with respect to genetic diagnosis and its application in in-vitro fertilization are major factors driving growth of this region.

Asia Pacific is anticipated to witness lucrative growth as a result of developments in health care infrastructure in this region coupled with presence of significant number of target population that is suffering with chronic as well as acute disorders. Government initiatives taken up herein are also attributive to influence sector growth to a great extent.